You have two options for Medicare:
Option 1: Original Medicare (Part A & B) What Original Medicare A & B do not cover you continue to pay and pay when you use the services…there is not stop loss. You can purchase a Med Sup to help pay some of what Part A and B do not cover. Med Sup’s can be purchased as Plan A, B, C, D, F, G, K, L, M, or plan N. The Med Sup plans require a monthly premium in addition to your Part B Premium. You can purchase a stand alone Part D drug plan, with a monthly premium. If you have a Med Sup & a Drug plan you might have to make 2 separate payments for your coverage.
Option 2: MedAdvantage Plan (Part A & B and some include Part D drug plan) MedAdvantage plans include everything Original Medicare offers and can include some other items too such as Vision, Hearing & Basic Dental. You pay one premium for MedAdvantage and Drug plan (if you choose a plan with drug coverage). MedAdvantage plans have a Max Out of Pocket where you do not pay anymore after you reach that limit. The Max Out of Pocket is different for each plan, and each company offers different Max Out of Pocket amounts.
Keep in mind you can only purchase a Med Sup plans to go with Original Medicare. They can not be used with MedAdvantage plans. You must also keep part B premium paid and in place to have a MedAdvantage plan.
Here’s a short video on how Medicare works and some information on Med Sups: CLICK HERE